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Eleven more firms sign up to prompt payment scheme
Eleven more companies have signed up to the government's prompt payment scheme, in which businesses promise to pay their suppliers within ten working days.
The issue of late payment is an important one for small firms, with many companies paying increasingly late due to the recession.
"Government has taken the lead with nine out of ten central government invoices now being paid within ten days - the challenge is now for business to step up and play fair," said Business Secretary Lord Mandelson.
However, the Federation of Small Businesses believe that the government needs to do more to tackle the problem and have called for Companies House to be allowed to name, shame and fine companies which fail to pay on time.
Businesses now signed up to the prompt payment scheme are: Barclays, Sony, B&Q, Motorola UK Ltd, BSkyB, Centrica, British Airways, Imperial Tobacco, AMEC and Research in Motion.
Post Date: May 14th, 2009
The issue of late payment is an important one for small firms, with many companies paying increasingly late due to the recession.
"Government has taken the lead with nine out of ten central government invoices now being paid within ten days - the challenge is now for business to step up and play fair," said Business Secretary Lord Mandelson.
However, the Federation of Small Businesses believe that the government needs to do more to tackle the problem and have called for Companies House to be allowed to name, shame and fine companies which fail to pay on time.
Businesses now signed up to the prompt payment scheme are: Barclays, Sony, B&Q, Motorola UK Ltd, BSkyB, Centrica, British Airways, Imperial Tobacco, AMEC and Research in Motion.
Post Date: May 14th, 2009
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